REACH 538 - BUDGET 2024
(SK)
16 Feb 2024 (10am - 7pm)
REACH
16/2/24, 11:03 am - +REACH: *Dear Contributors,*
Welcome back! ๐
⏰ We will be opening the chat from *11am to 8pm* today. ⏰
*House Rules (short version of our Terms of Use) to keep in mind:*
1. Be kind and respectful. We all want to be in a safe space to share our views.
2. Any and all threatening, abusive, vulgar or racially, religiously and ethnically objectionable content is prohibited.
3. Consider the quiet ones among us and give them a chance to comment.
4. No need to repeat your comment or in different forms (including caps) - we heard you loud and clear the first time.
5. Let’s protect each other’s privacy and keep contact details in this group what it should always be - confidential.
*Full set of Terms of Use:* https://go.gov.sg/reach-whatsapp-terms
We will strive to uphold these rules to ensure this is a safe space for all.
Please be assured that the points made by participants during the chat are aggregated and shared with relevant agencies.
The topic will be posted shortly.
Thank you
Megan ๐
16/2/24, 11:04 am - +REACH: ๐ข *BUDGET SPEECH TODAY @ 3:30PM* ๐ข
DPM & Finance Minister Lawrence Wong will be delivering the Budget 2024 speech in Parliament *today at 3:30pm*. This year's budget, titled _Building Our Shared Future Together_, will outline the Government's plan to help citizens meet their full potential, while keeping Singaporeans assured despite a more troubled world.
Budget 2024 is the first instalment of the plans set out in the Forward Singapore roadmap which aims to:
(1) Keep Singapore moving forward ๐ฃ️
(2) Equip Singaporeans to realise their fullest potential ๐ฏ
(3) Give more assurance to our families and seniors amidst a more troubled world ๐ก
๐ Watch the Budget speech live at *3.30pm*:
https://www.youtube.com/watch?v=sKiQYSjIiRc
๐๐ป For more info on Budget 2024, please visit MOF's Singapore Budget website at https://www.mof.gov.sg/singaporebudget.
16/2/24, 11:05 am - ~ REACH Singapore changed this group's settings to allow all members to send messages to this group
----
16/2/24, 12:00 pm - ☸️ Danny ๅฟ:
Wonder what will be inside the Budget 2024?
2 issues come into mind :-
1. Retrenchment is on the rise.
There's a need to help workers to get jobs, provide training and provide interim financial assistance for the time being while they get jobs.
2. Cost of living still very high - need interim measures to cushion the impact of the still high inflation.
16/2/24, 12:14 pm - ☸️ Danny ๅฟ: <Media omitted>
16/2/24, 12:14 pm - ☸️ Danny ๅฟ: <Media omitted>
16/2/24, 12:15 pm - ☸️ Danny ๅฟ:
Just look at the bills of today lunch - food prices still very high.
Wonder how to bring food prices down?
16/2/24, 12:19 pm - ☸️ Danny ๅฟ:
Including drinks, $20 per meal for 2 person.
Previously, $10 per meal for 2 persons including drinks.
Wonder how do people sustain the high cost of inflation going forward?
Should people depends on Government for yearly GST voucher or should there be a more sustainable way to ensure people can have access to affordable food on our own?
16/2/24, 12:20 pm - +Caleb: +1
16/2/24, 12:22 pm - +Frankie Wee: Supplier and rental cost increases affected prices
16/2/24, 12:24 pm - ☸️ Danny ๅฟ:
Then wonder how to tackle the high cost and ensure food prices are affordable?
Food are daily basic essential items - 3 meals per day.
Already, people are squeezing 3 meals into 2 meals a day.
16/2/24, 12:26 pm - +Frankie Wee: Wager need increase
16/2/24, 12:26 pm - +Frankie Wee: It’s like upper level index
16/2/24, 12:29 pm - +Smiley face: How to increase wages across from public to private gate and especially our SMEs, the smaller folks? How? Ways? Methods? Any ideas to help?
16/2/24, 12:31 pm - +Smiley face: Continuation: Part 6/9 (1 - )
(The Digital Civilisation: Accelerating Performances & Pitfalls: Karl, Smith, Jung, Maslow, Da Vinci, Deming, Einstein, Galileo, Moore, Newton, Ricardo and more?)
"Three Indicators of human predicative or predicament?"
"If there is no humankind on earth, then there will be no life and no needs to innovate, to create and to improve lives!"
- - anonymity
16/2/24, 12:34 pm - +Frankie Wee: If small companies company is hard to make money when run on productivity profit and lose how much limit payroll.
16/2/24, 12:34 pm - +Frankie Wee: Large company like McDonald’s wage much better start from $2k+
16/2/24, 12:35 pm - +Smiley face: You got it, Frankie!
Let's all crack our minds, today's topic, COL, budget and more! Thanks Frankie!
16/2/24, 12:35 pm - +Smiley face: Or $7/hr
16/2/24, 12:36 pm - +Jimmy Chew: Now 10
16/2/24, 12:36 pm - +Frankie Wee: Full time $2k
16/2/24, 12:37 pm - +Smiley face: We are that high and please don't look down!...
16/2/24, 12:38 pm - ☸️ Danny ๅฟ:
2019 pre-covid - food prices on average $3.50, $4, very expensive $5.
Drinks in average $0.80, $1.
On average, 1 person meal $5, 2 persons $10.
No need GST voucher - people can survive.
Now including drinks, 2 persons meal $20.
Barely 4 years plus - 100% increases in food prices.
Inflation not 4 to 7% post covid.
It is 100% inflation - if based on my today's food bill.
16/2/24, 12:38 pm - ☸️ Danny ๅฟ: <Media omitted>
16/2/24, 12:38 pm - +Smiley face: For example, if Dow reached 40k or Taiwan Index hitting 20k.... how? And what's next?
16/2/24, 12:39 pm - +Smiley face: Real and really!
16/2/24, 12:40 pm - +Smiley face: Let's crack this code of COL !
16/2/24, 12:40 pm - +Jimmy Chew: We need to generatel food by printing hahaha <This message was edited>
16/2/24, 12:41 pm - +Jimmy Chew: Or have HDB flats as vertical farms <This message was edited>
16/2/24, 12:42 pm - ☸️ Danny ๅฟ:
So wonder, aside from giving yearly GST voucher to:-
1. Cushion the high food prices.
2. Is government budget for yearly GST voucher sustainable?
3. Should there be a long term more sustainable way to tackle the high food prices - because once this food prices is fixed - it is entrenched and won't come down - unless there is a sustain national effort to bring it down to sanity level.
16/2/24, 12:42 pm - +Smiley face: Costlier....
16/2/24, 12:43 pm - +Smiley face: The longer it goes, the higher it shall be...
16/2/24, 12:43 pm - +Smiley face: People is fixed
Cost is variable
Revenue is dynamic
16/2/24, 12:44 pm - +Jimmy Chew: They leave it to the next generation like the USA is doing. Spend and spend
16/2/24, 12:44 pm - +Smiley face: Catch 22 is Food+Energy
16/2/24, 12:44 pm - +Smiley face: Kicking the coke can...
16/2/24, 12:44 pm - +Smiley face: people from every part of the world into your foundry of wealth and knowledge. And people are the pinnacle of all meanings of economic growth of a nation, nothing more and never the least important!...
16/2/24, 12:45 pm - +Jimmy Chew: You say government can't continue giving. Same with the old they can't possibly give to support themselves too
16/2/24, 12:45 pm - +Jimmy Chew: Government got $$$$$$$$$$ citizen got $
16/2/24, 12:45 pm - +Jimmy Chew: Or $$ or $$$
16/2/24, 12:45 pm - +Sam: It will be quite a while until PWM fully implemented. It is not entirely ingredients cost inflation. It is the labour cost due to PWM for taking care of the lower wage workers that cost recent round of increase
16/2/24, 12:46 pm - +Jimmy Chew: You will always have the poor among you
16/2/24, 12:46 pm - +Smiley face: Three existential metrics: Home, Car, Devices ...
16/2/24, 12:46 pm - +Smiley face: Yupp!
16/2/24, 12:47 pm - +Jimmy Chew: Car?
16/2/24, 12:47 pm - +Sam: It takes whole nation effort to lift the wages of the bottom few
16/2/24, 12:47 pm - +Smiley face: Let's include private & public
16/2/24, 12:48 pm - ☸️ Danny ๅฟ:
Rightfully PWM should not increase business cost if implemented correctly as it bring higher productivity unlike minimum wages that increase business cost without productivity gain.
Eg. A person wages increase say 50%, but because he increase productivity by 100%, business cost don't rise - hence products and services cost don't increase.
16/2/24, 12:49 pm - +Smiley face: 50%-100% just won't click....not good enough
16/2/24, 12:50 pm - +Rama: Review of PWM for security industry to take place next year.
16/2/24, 12:50 pm - +Smiley face: We are looking from the future perspective of productivity, it will massively increase productivity.
16/2/24, 12:51 pm - +Sam: If you have 5 low wage workers now and you are mandated to increase the salary, what do you do? Cut one head count to make the other 4 more productive?
16/2/24, 12:52 pm - +Smiley face: either an accelerated performance that drives revenue to the roof or impending pitfalls due to escalating costs and failures....
16/2/24, 12:52 pm - +Sam: It won't happen overnight , but it will happen in the future with job process integrated with technology
16/2/24, 12:52 pm - +Frankie Wee: Make way new digital with Ai speed fast on productivity business will save cost and save wage increase
16/2/24, 12:53 pm - +Smiley face: It will be a massive consolidation of economics at both lateral layers and at levels unseen, vertically, from the ground....
16/2/24, 12:53 pm - +Frankie Wee: The world is challenging technology when business make money fast
16/2/24, 12:53 pm - +Smiley face: Yes
16/2/24, 12:53 pm - +Smiley face: Yes
16/2/24, 12:54 pm - ☸️ Danny ๅฟ:
Eg. Previously, I need to install 10 physical servers, I need 2 full time system engineer.
Assume 1 engineer salary is $5,000, it will cost business $10,000 to install 10 physical servers.
But the moment I PWM, I use 1 physical servers to install 10 virtual servers - my productivity go up 100% - 1 engineer $5,000 can do the job .
So if the boss increase my salary to $6,000, the boss save $4,000 employing just 1 engineer to do 2 engineers job - and yet can increase my salary by $1,000.
This is what PWM suppose to achieve through upskill and increase wages - through productivity gain.
But it don't increase business cost that lead to increase in product prices.
16/2/24, 12:54 pm - +Smiley face: shall face the consequences of pitfall over a period of ten years withstanding the enormous needs for the advancement of cash (1:9 financial gearings). ....
16/2/24, 1:02 pm - ☸️ Danny ๅฟ:
Likewise, previously a mall need to hire 18 security guards to patrol a mall in 3 shifts - 6 person per shift.
I pay $2,000 x 18 people = $36,000 a month.
But once I PWM, I deploy CCTV video AI analytics - that will pick up suspicious activities in the mall by AI and flag alerts to security guard in the SOC.
I only need to employ 9 people for 3 shifts.
1 in command centre to monitor computer screen upon AI alerts and send 2 security guards as buddy system to respond to suspicious activities.
I pay $2,500 under PWM to 6 staff = $15,000.
The business save $21,000 a month.
This is what PWM suppose to achieve.
Productivity increase, business cost control or reduce but wages to workers increase.
Else, PWM will end up like minimum wages - business cost increase, no productivity gain, and increase in product or service prices. <This message was edited>
16/2/24, 1:04 pm - ☸️ Danny ๅฟ:
PAP push PWM.
WP push minimum wages.
If wage cost increase because of wage cost increases - then it is minimum wages.
If wage cost don't increase in total, but productivity increase, salary increase per workers due to productivity gain, business cost control and product cost don't increase - then it is true PWM. <This message was edited>
16/2/24, 1:06 pm - +Frankie Wee: https://www.tal.sg/tafep/getting-started/fair/tripartite-guidelines
16/2/24, 1:07 pm - +Frankie Wee: Pap is minister of govt integrity
Public is different need make fair worker on wage
16/2/24, 1:09 pm - +Smiley face: PMW is variable
Minimum wage is fixed
16/2/24, 1:10 pm - +Smiley face: Govt like ironman?
Public like super man?
16/2/24, 1:12 pm - +Sam: The argument is that there got to be reduction in headcount thus productivity gain. But before productivity gain and labour at optimum level, and legislation kicked in, how to cope without increasing prices?
16/2/24, 1:12 pm - +Smiley face: Frankie.....nor, pls read and comment...
The game, the intensity and the dynamic of the digital transformation have all changed, now onwards, it's nation against nation and who reaches the goal-line of Digitisation shall have advantages over the rest. It's hard to follow and arguably hardest to lead ! Zero to Hero & Hero to Zero ! All because of the nature of competing in this fast and changing digital civilisation in the making. Where are the Strategic Advantages for nations aspiring to lead? Given, the US is the powerhouse for Softwares and Taiwan is the Hardware giant of this digital age! How to compete and follow up to the two mightiest?...
16/2/24, 1:13 pm - +Sam: Ideally, productivity must happen first before trimming on work force. But there is a fixed schedule on implementation of PWM
16/2/24, 1:16 pm - +Smiley face: Short play, cut interim costs and raise revenues....
After all what is productivity?
16/2/24, 1:17 pm - ☸️ Danny ๅฟ:
Overall rightfully, ideally, under PWM, the following should happen:- our national productivity increases, salary per worker increase, but no increase in business cost and total wage cost - but overall our national competitiveness increase vis-a-vis other countries.
We will be able to attract high value added investment into Singapore and our individual workers income will increase correspondingly.
This should be the perfect outcome of the concept PWM and ITM - started and coin in 2016 ago.
Based on what I observe:-
1. Household income and worker's income do increase.
2. High value added investment do come in.
3. Sovereign wealth fund and individual passive income do increase.
All these should be the right outcome of PWM and ITM.
But only one thing that long baffle me - why product and services prices, business cost, food prices etc also increases phenomenally?
This is something that I don't understand - because rightfully if ITM and PWM if implemented correctly - shouldn't trigger such a phenomenal cost increases and business cost increases....๐ค <This message was edited>
16/2/24, 1:22 pm - +Smiley face: Money not enough!
16/2/24, 1:23 pm - ☸️ Danny ๅฟ: <Media omitted>
16/2/24, 1:23 pm - +Rama: Wait for Jack Neo next movie sequel!
16/2/24, 1:24 pm - +Smiley face: Still not enough!
Good afternoon!
16/2/24, 1:24 pm - +Smiley face: Why not enough?
16/2/24, 1:24 pm - ☸️ Danny ๅฟ:
Wonder which step went wrong....
I think it could be a combination of complex events that trigger the runaway costs - and somehow reduce the impact of ITM and PWM...
16/2/24, 1:26 pm - +Smiley face: Frankie.....Andrew....
Whenever the word TRANSFORMATION appears, it means BIG MONEY!
Big money outgoings and hopefully will yield more incomes!
16/2/24, 1:26 pm - +Frankie Wee: This mean from the original country production and copyright sold to Singapore software and hardware.
Singapore is big competition and has no nature but recruiting.
Singapore alway buying from US military equipment on train.
Buy is like man make in hero
Zero is man make in money
16/2/24, 1:28 pm - +Smiley face: Needs Capital to kickstart any business venture....
No money or not enough money, how?
16/2/24, 1:28 pm - ☸️ Danny ๅฟ:
If business cost increases because of wage cost increases - then it is minimum wages.
16/2/24, 1:29 pm - +Smiley face: Draw a fixed line or American called it the baseline! Good or ?
16/2/24, 1:29 pm - +Smiley face: The Chinese called it the Basic...
16/2/24, 1:29 pm - +Frankie Wee: borrow more on mortgage to make business repay
16/2/24, 1:30 pm - +Smiley face: You got it, WOW! Ace to you ! To thanks!
16/2/24, 1:30 pm - +Smiley face: Next is Revenue to service your loans....short, mid, long
16/2/24, 1:32 pm - +Rama: Expenditure out strip revenue
16/2/24, 1:33 pm - +Frankie Wee: How much huge amount period in short to long team.
If revenue has limit or insufficient that won’t lend venture business.
16/2/24, 1:33 pm - +Rama: Especially this wood dragon year!
16/2/24, 1:35 pm - +Frankie Wee: Hopefully to see 2030 digital civilisation will change style and economy reach level (if crisis continues safeguard use revenue fund)
16/2/24, 1:35 pm - +Rama: Yes
16/2/24, 1:36 pm - +Frankie Wee: Hearing about EV many companies business
16/2/24, 1:36 pm - +Rama: Game changer!
16/2/24, 1:38 pm - ☸️ Danny ๅฟ:
This could be the problem.
Wage costs run ahead of productivity growth.
16/2/24, 1:40 pm - ☸️ Danny ๅฟ:
This could be another factor - why business costs has ramp up correspondingly - in which ITM and PWM suppose to address.
16/2/24, 1:55 pm - +Smiley face: Revenue over cover Costs?
16/2/24, 1:55 pm - +Rama: To a certain extent
16/2/24, 1:55 pm - +Smiley face: Wow !
Like get paid before you begin your work...?
16/2/24, 1:56 pm - +Smiley face: When you are managing books of business....one critical metric is. CASH and FLOW....
NO CASH, SHORT OF CASH.... comatose !
16/2/24, 1:57 pm - ☸️ Danny ๅฟ:
In other words, the full true benefit of the ITM and PWM have not been fully realised.
Only the following benefits have been realised:-
1. Increase in salary per worker and household.
2. Effective response to disruptive tech - business transformation, job reskilling and land high value high income jobs for workers.
3. Improve productivity growth per each industry sectors.
4. Attract high value added investment
5. Increase earnings in sovereign wealth fund and individual passive income.
But unfortunately, some missteps along the way during ITM and PWM implementation that lead to:-
1. Wage costs race ahead of productivity growth - leading to higher business costs.
2. Product, services, food cost increases as a result of higher business costs.
Wonder how to tackle these 2 side effects - to bring down business costs and as a result products, services and food prices?
Or is it more than that?
Because business cost also due to global supply chain disruption due to war, climate change and geopolitical tensions?
Probably government could have a more insightful details of the high food, products and services prices that are charged to consumers like us.
16/2/24, 1:57 pm - +Smiley face: Abilities and Capacity can be two factors.... Human vs AI ?
16/2/24, 1:58 pm - +Smiley face: The leading indicators.... frontrunning, that's Costs and it's part of human behaviors!
16/2/24, 2:01 pm - +Rama: Costs must not exceed income .
16/2/24, 2:05 pm - ☸️ Danny ๅฟ: <Media omitted>
16/2/24, 2:05 pm - ☸️ Danny ๅฟ: <Media omitted>
16/2/24, 2:09 pm - ☸️ Danny ๅฟ:
See productivity growth - is the whole gist and the root core of the propose ITM and PWM - when coin in 2012.
Only when the productivity growth is fully realised - it will reap all the benefits minus the side effects of high business costs and increase in total wage costs - and hence will not lead to increase in products, services and food prices.
Hence now we experience high food prices, high products and high services prices - due to high business costs - really baffle me - because rightfully ITM and PWM suppose to curb high business costs, high food, products and services prices.
It beats me ..
16/2/24, 2:11 pm - +Frankie Wee: Uk is recession
16/2/24, 2:11 pm - +Frankie Wee: https://www.channelnewsasia.com/business/britain-recession-economy-data-inflation-cost-living-crisis-gdp-4125656
16/2/24, 2:13 pm - +Frankie Wee: I am surprised atm hit recession that won’t draw cash.
16/2/24, 2:21 pm - +Smiley face: Japan?
16/2/24, 2:24 pm - +Smiley face: Closing into June onwards, the stocks market will benefit from the Fed rates cut of 25 points and up to three rates cut. It's a moment and the momentum of divergence between the equities markets of the US and China....
16/2/24, 2:25 pm - +Smiley face: Frankie....
The ramifications of these events have dented the repute of the US undeniably the number one leader of the world, the most powerful military, the financial & economic powerhouse and most of all, the most democratic nation on earth....
16/2/24, 2:29 pm - ☸️ Danny ๅฟ:
My close friend comments:-
Food comes from outside Singapore. We have little control over the price + freight and shipping.
When there re shortages, whoever can pay higher get the food. So we have to bid higher.
Keeping sgd stronger can defer part of the cost but not everything.
And that also depends on how deep our pockets are.
Squandering away reserves and NIRC is a sure death method
16/2/24, 2:33 pm - +Jimmy Chew: Rightly so
16/2/24, 2:34 pm - ☸️ Danny ๅฟ:
Cut one headcount, retrain and redeploy this one to other functions in the company and pay higher if he acquire the right skills that come with higher productivity.
16/2/24, 2:35 pm - +Jimmy Chew: Or hire cheaper, stronger and a yes man hahaha
16/2/24, 2:36 pm - ☸️ Danny ๅฟ:
This is not the objective of PWM and ITM.
16/2/24, 2:36 pm - +Jimmy Chew: Yeah. Agree. Business are innovating <This message was edited>
16/2/24, 2:36 pm - +Jimmy Chew: Can't blame them <This message was edited>
16/2/24, 2:37 pm - ☸️ Danny ๅฟ:
My original intent is to save jobs, retrain for higher productivity, higher value jobs, higher income and higher business profits but lower business costs.
16/2/24, 2:38 pm - ☸️ Danny ๅฟ:
This is also the Government intent.
Locals vote Government.
Foreigners don't.
16/2/24, 2:38 pm - +Smiley face: Cutting fees that have a direct impact on the business costs?
Cutting levies is one example but it's not in the consideration?
16/2/24, 2:39 pm - +Smiley face: In economics, that's the factor of productions.
Identify three to five crucial factors of cost?
16/2/24, 2:40 pm - +Jimmy Chew:
Your project?
16/2/24, 2:40 pm - ☸️ Danny ๅฟ:
My kaypohness.
16/2/24, 2:40 pm - +Smiley face: If you can't adjust the rental (Ricardo's theory), what else can be adjusted? Wages?
16/2/24, 2:43 pm - +Rama: Interest and lending rates affect rental which can in turn can eat into wages.
16/2/24, 2:43 pm - +Jimmy Chew: It's a good idea. The realities are companies that have to survive. Overheard in conversation. Take officer's position because there is no supervisor role for you, as we have lost the contract.
16/2/24, 2:46 pm - +Smiley face: Interest rates, a tougher touch!
16/2/24, 2:47 pm - +Rama: Agree
16/2/24, 2:48 pm - +Smiley face: CDC vouchers are good but it's a temporary measure...
16/2/24, 2:48 pm - +Rama: The 0.5 in conservancy Charges rebate is annoying!
16/2/24, 2:50 pm - +Smiley face: Small Money....no impact on disposable Income of households?
16/2/24, 2:50 pm - +Smiley face: Shortage of up to $1,000/mth? Referring to the rising COL.
16/2/24, 2:50 pm - +Rama: Should be 1 or 2.
16/2/24, 2:51 pm - +Smiley face: 5% and it's calibrated to flats type...
16/2/24, 2:52 pm - +Rama: Revised the percentage
16/2/24, 2:52 pm - +Smiley face: Yes, calibrated according to income level?
16/2/24, 2:53 pm - +Rama: Possibly
16/2/24, 2:53 pm - +Smiley face: The assumption is up to $1,000/mth extra incurred expenses? Varies home to home.
16/2/24, 2:54 pm - +Rama: Assumption to be relooked!
16/2/24, 2:55 pm - +Smiley face: Some need $300 and others $500 etc...up to $1,000?
16/2/24, 2:55 pm - +Rama: Means testing redefined.
16/2/24, 2:56 pm - +Smiley face: Ok.
16/2/24, 2:56 pm - +Smiley face: superman expecting Ironman to assist all laymen...?
16/2/24, 2:57 pm - +Rama: ๐๐๐คท♂️
16/2/24, 2:59 pm - +Smiley face: Superman must onwself saves the men.... because superman is superb!
16/2/24, 2:59 pm - +Rama: No kryptonite in between!
16/2/24, 2:59 pm - +Smiley face: Pls don't cut GST ! Why?
16/2/24, 3:00 pm - +Rama: It helps with increased subsidies
16/2/24, 3:00 pm - +Smiley face: Bingo! But fellows don't!
16/2/24, 3:01 pm - +Smiley face: What is nett nett?
16/2/24, 3:02 pm - +REACH: ๐ข *BUDGET SPEECH TODAY @ 3:30PM* ๐ข
DPM & Finance Minister Lawrence Wong will be delivering the Budget 2024 speech in Parliament *today at 3:30pm*. This year's budget, titled _Building Our Shared Future Together_, will outline the Government's plan to help citizens meet their full potential, while keeping Singaporeans assured despite a more troubled world.
Budget 2024 is the first instalment of the plans set out in the Forward Singapore roadmap which aims to:
(1) Keep Singapore moving forward ๐ฃ️
(2) Equip Singaporeans to realise their fullest potential ๐ฏ
(3) Give more assurance to our families and seniors amidst a more troubled world ๐ก
๐ Watch the Budget speech live at *3.30pm*:
https://www.youtube.com/watch?v=sKiQYSjIiRc
๐๐ป For more info on Budget 2024, please visit MOF's Singapore Budget website at https://www.mof.gov.sg/singaporebudget.
16/2/24, 3:02 pm - +Smiley face: Budget soon, live !
16/2/24, 3:02 pm - +Rama: Yup
16/2/24, 3:03 pm - +Smiley face: Wait and see....
16/2/24, 3:03 pm - +Rama: Some are asking for increased cdc voucher on Instagram along with bigger cpf top up.
16/2/24, 3:04 pm - +Smiley face: Normal request
16/2/24, 3:04 pm - +Smiley face: $500 x three times?
16/2/24, 3:06 pm - +Rama: Sgd500 per individual in the house and not based on household. Only for two pax household . More sgd300 per pax.
16/2/24, 3:07 pm - +Rama: Bigger medisave top up.
16/2/24, 3:07 pm - +Smiley face: Mr Charity....lol
16/2/24, 3:07 pm - ☸️ Danny ๅฟ:
If my project - I will have been in PMO.
Because issues discuss cross so many Ministries.
16/2/24, 3:07 pm - +Smiley face: Numbers?
16/2/24, 3:08 pm - +Rama: Not practical but meet half way!?
16/2/24, 3:08 pm - +Smiley face: Money not enough...
16/2/24, 3:08 pm - +Rama: Government to determine
16/2/24, 3:08 pm - +Smiley face: What's the ideal number?
16/2/24, 3:08 pm - +Rama: Jack Neo again!
16/2/24, 3:09 pm - +Rama: Can't pin point.
16/2/24, 3:09 pm - +Smiley face: $300 x 3 million people x times?
16/2/24, 3:09 pm - +Smiley face: $500 onwards and by age group and tests?
16/2/24, 3:09 pm - +Rama: Possibly
16/2/24, 3:10 pm - +Smiley face: One time or ?
16/2/24, 3:10 pm - +Rama: As long as don't break the bank
16/2/24, 3:10 pm - +Rama: Depends on surplus
16/2/24, 3:10 pm - +Smiley face: Sticky budget?
16/2/24, 3:11 pm - +Smiley face: Balanced.
16/2/24, 3:14 pm - +Rama: Not surprising
16/2/24, 3:16 pm - +Smiley face: If the pitch for 2024 economic growth is forecast to be 1-3%, then a prudent budget can be expected to come@ 3.30pm?
Q3, a chance for 3.2-3.6% growth!
16/2/24, 3:16 pm - +Smiley face: Refer to the past essay on this forecast.....
16/2/24, 3:18 pm - +Smiley face: Its all about the future! Strategic investments and smart planning will yield many lasting advantages and if executed well and the overall structures and dynamism are of high or highest quality of knowledge and people compared to the previous ten years;...
16/2/24, 3:20 pm - +Smiley face: Only if the overall Digital systems are intact and connecting to the entire country goods and services. Comparatively, this colossal Digital hub to others, it will bloom to many Strategic Advantages of efficiency and massive consolidation of economic definition of human productivity...
16/2/24, 3:20 pm - +Jimmy Chew: There are conservancy fees increasing and conservation fees haha all at up. Ant bites and mosquito bites and small but impact can be great
16/2/24, 3:21 pm - +Smiley face: That's challenging to some people but not all....home to home
16/2/24, 3:23 pm - +Smiley face: Alternative mode of transit will be the next futuristic way of moving tangibles more than commuters...
16/2/24, 3:30 pm - +REACH: ๐ข *SHARE YOUR VIEWS HERE ON THE BUDGET 2024 SPEECH* ๐ข
DPM & Finance Minister Lawrence Wong is delivering the Budget 2024 speech *now* in Parliament. Watch the speech live (https://www.youtube.com/watch?v=sKiQYSjIiRc) and share your views on Budget 2024 measures here!
16/2/24, 3:48 pm - +Jimmy Chew: Beam me up Scotty
16/2/24, 3:52 pm - +REACH: ๐ข *[SHARE YOUR VIEWS #1] BUDGET 2024 - Tackling Immediate Challenges*
DPM & Finance Minister Lawrence Wong had just announced a slate of measures to tackle immediate challenges by addressing uncertainties in the outlook by enhancing the Assurance Package.
๐ฌ *What are your views on the measures to tackle our immediate challenges?*
The measures include:
๐ *Additional $600 in CDC Vouchers for all Singaporean households* - the first $300 will be disbursed in June 2024, and the remaining $300 will be disbursed in January 2025.
๐ *Cost-of-Living Special Payment of between $200 and $400 in cash* - this will be extended to adult Singaporeans with Assessable Income of up to $100,000, and who do not own more than one property
๐ *Additional one off U Save rebates of up to $950* to help HDB households cope with increase in utility bills
๐ *Additional one off S&CC rebates of up to 4 months* for HDB flats
๐ *$1.3 billion Enterprise Support Package to support companies* - 50% Corporate Income Tax Rebate (capped at $40,000); enhancing Enterprise Financing Scheme; and extension of SkillsFuture Enterprise Credit by a year to 30 June 2025.
๐ https://www.channelnewsasia.com/singapore/singapore-budget-2024-lawrence-wong-live-blog-4122681 <This message was edited>
16/2/24, 4:11 pm - +REACH: ๐ข *[SHARE YOUR VIEWS #2] BUDGET 2024 - Pursuing Better Growth and Jobs; Equipping Our Workers for Life*
DPM & Finance Minister Lawrence Wong had just announced a slate of measures to pursue better growth and jobs to ensure a strong, innovative, and vibrant economy and equip our workers for life as people and talent are critical to our economic dynamism.
๐ฌ *What are your views on the measures to pursue better growth and jobs and equip workers for life?*
The measures include:
๐ *Introduce a new Refundable Investment Credit*
๐ Top up $2 billion to the *National Productivity Fund*
๐ Top up $2 billion to the *Financial Sector Development Fund*
๐ Invest $3 billion for *Research, Innovation and Enterprise 2025 (RIE2025)*
๐ Extend the enhanced support for green loans under the *Enterprise Financing Scheme*
๐ Expand the *Energy Efficient Grant* to more sectors
๐ A new *SkillsFuture Level-Up Programme* - all Singaporeans aged 40 and above will receive a top-up in SkillsFuture Credits of $4,000; opportinty to pursue another subsidised full-time diploma, SkilsFuture Mid-Career Training Allowance of up to $3,000 per month for selected full-times courses
๐ https://www.channelnewsasia.com/singapore/singapore-budget-2024-lawrence-wong-live-blog-4122681
16/2/24, 4:24 pm - +REACH: ๐ข *[SHARE YOUR VIEWS #3] BUDGET 2024 - Tackling Inequality and Advancing Social Mobility*
DPM & Finance Minister Lawrence Wong had just announced a slate of measures to tackle inequality and advance social mobility to ensure every citizen is given equal opportunities to realise their fullest potential.
๐ฌ *What are your views on the measures to tackle inequality and advance social mobility?*
The measures include:
๐ Enhancing the *Workfare Income Supplement scheme* by raising the qualifying income cap from $2,500 to $3,000
๐ *Raising the Local Qualifying Salary (LQS) for both full-time and part-time workers*
๐ Providing *more support for employers who raise the wages of lower wage workers* by rising the co-funding levels from a maximum of 30% to 50% and the Progressive Wage Credit Scheme ceiling from $2,500 to $3,000
๐ *Uplifting ITE graduates* through ITE Progression Award by providing a $5,000 top-up to Post-Secondary Education Account of ITE graduates when enrolled into a diploma programme
๐ Rolling out *ComLink+ Progress Package* to support eligible lower-income families with young children (e.g. adults can each receive payouts of up to S$600 every quarter – through a combination of cash and CPF top-ups – if they get a job and stay employed.)
๐ https://www.channelnewsasia.com/singapore/singapore-budget-2024-lawrence-wong-live-blog-4122681
16/2/24, 4:35 pm - +Mohamed...: <Media omitted>
16/2/24, 4:54 pm - +REACH: ๐ข *[SHARE YOUR VIEWS #4] BUDGET 2024 - Providing More Assurance for Families and Seniors*
DPM & Finance Minister Lawrence Wong had just announced a slate of measures to provide more assurance for families and seniors as family remains the bedrock of our society.
๐ฌ *What are your views on the measures to provide more assurance for families and seniors?*
The measures include:
▶️ *_Support Families through Every Stage_*
๐ *Reduce monthly childcare fee caps* in Government-supported preschools in 2025, to $640 for Anchor Operators and $680 for Partner Operators
๐ *Enhance existing preschool subsidies for lower income families* - Higher subsidies will be extended to all children from lower-income families, including those with non-working mothers
๐ Provide a *Parenthood Provisional Housing Scheme (PPHS)* (Open Market) Voucher for one year
๐ *Reduce the maximum monthly fees* at Special Education schools to $90, down from $150 today and *lower the fee caps* at all Special Student Care Centres to reduce families' out-of-pocket expenses
▶️ *_Strengthening Retirement Adequacy_*
๐ *Increase the CPF contribution rates* for senior workers aged 55 to 65 by 1.5% points in 2025
๐ *Raise the CPF Enhanced Retirement Sum (ERS)* to 4 times the Basic Retirement Sum from 2025
๐ *Close the CPF Special Account (SA)* for members aged 55 and above
๐ Raise the qualifying per capita household income threshold for *Silver Support* from $1,800 to $2,300, and increase quarterly payments by 20%
๐ Enhance the *Matched Retirement Savings Scheme (MRSS)* - Dollar-for-dollar matching grant for cash top-ups to CPF
๐ https://www.channelnewsasia.com/singapore/singapore-budget-2024-lawrence-wong-live-blog-4122681 <This message was edited>
16/2/24, 4:59 pm - +Andrea: Please have tiered support for bigger families with more children - 2nd child more subsidy than first, 3rd child more than 2nd, and so on. Same for childcare leave, to be pegged to number of children. Give more benefits to families with 2 kids or more.
16/2/24, 4:59 pm - +KL: IF a person have 5 kids no need to work ? <This message was edited>
16/2/24, 5:00 pm - +KL: Many Well to do families have 4 kids , thus they entitle so much leave that a lot of ppl need to cover their work
16/2/24, 5:00 pm - +KL: Thus left a lot of ppl cant even go to date <This message was edited>
16/2/24, 5:03 pm - +Suma pamu: Seems Minister felt property market is not HOT ๐๐
16/2/24, 5:03 pm - +REACH: ➡️ _*Majulah Package*_
๐ *Earn and Save Bonus* to help seniors earning up to $6,000 per month accumulate more retirement savings.
๐ *Retirement Savings Bonus* of between $1,000 and $1,500 to seniors with retirement savings below the Basic Retirement Sum
๐ *Medisave Bonus* to all seniors born 1973 or earlier
➡️ _*Keeping healthcare Affordable and Accessible for All*_
๐ One time *MediSave Bonus* for all adult Singaporeans of up to $300
๐ *Update per capita household income thresholds* for healthcare and associated social support subsidy
๐ Provide $3.5 billion for *Age Well SG* to support seniors to age well in their homes and communities
๐ https://www.channelnewsasia.com/singapore/singapore-budget-2024-lawrence-wong-live-blog-4122681
16/2/24, 5:06 pm - +Frankie Wee: CPF SA next year close down ๐
16/2/24, 5:06 pm - +Smiley face: Its make sense!
16/2/24, 5:06 pm - +Smiley face: Why close?
16/2/24, 5:07 pm - +Frankie Wee: <Media omitted>
16/2/24, 5:10 pm - ☸️ Danny ๅฟ:
OA interest 2.5%.
SA interest 4%.
Retirement interest 4%.
16/2/24, 5:11 pm - +Frankie Wee: Yes those are 55 above SA will transfer to RA or OA
16/2/24, 5:14 pm - +Smiley face: Thanks!
16/2/24, 5:16 pm - +Suma pamu: Zero News about HDB and Housing prices.
Minister felt Property market is Cool..
He didnt felt prices raising,
So instead of cooling measures,
He Bring more things to make Market go higher :)
16/2/24, 5:24 pm - +REACH: ๐ข *[SHARE YOUR VIEWS #5] BUDGET 2024 - Securing Our Fiscal Position*
DPM & Finance Minister Lawrence Wong had just announced a slate of measures to secure our fiscal position to ensure it remains balanced, sound, and sustainable.
๐ฌ *What are your views on the measures to secure our fiscal position?*
The measures include:
๐ *Personal Income Tax Rebate* - 50% of tax payable for the Year of Assessment 2024, capped at $200
๐ *Raise the annual income threshold for dependant-related reliefs* from $4,000 to $8,000, with effect from the Year of Assessment 2025
๐ *Adjust Annual Value (AV) bands* for owner-occupier residential Property Tax rates from Jan 2025
๐ *Extend Additional Buyer's Stamp Duty (ABSD) concession* to single Singaporeans aged 55 and above purchasing a replacement private residential property, subject to conditions
๐ https://www.channelnewsasia.com/singapore/singapore-budget-2024-lawrence-wong-live-blog-4122681
16/2/24, 5:28 pm - ☸️ Danny ๅฟ: <Media omitted>
16/2/24, 5:30 pm - ☸️ Danny ๅฟ: <Media omitted>
16/2/24, 5:30 pm - ☸️ Danny ๅฟ: <Media omitted>
16/2/24, 5:30 pm - ☸️ Danny ๅฟ: <Media omitted>
16/2/24, 5:32 pm - +Frankie Wee: Not easy reach goal
16/2/24, 5:32 pm - +Rama: A lot of uncertainty along the way.
16/2/24, 5:44 pm - +Smiley face: COL & ageing....two biggie!
16/2/24, 5:45 pm - +Smiley face: Regardless of certain or uncertain.....the future is uncertain that's why the future or we don't need superman nor ironman.....
16/2/24, 5:45 pm - +Rama: We must hope for the best.
16/2/24, 5:46 pm - +Frankie Wee: Uncertainty in future man in the street
16/2/24, 5:46 pm - +Smiley face: Look guys, govt (ironman) tries to uplift here and there and tries to uplift everywhere....how to carry?
16/2/24, 5:46 pm - +Frankie Wee: High fly in the sky <This message was edited>
16/2/24, 5:47 pm - +Smiley face: Transformer....every nation's kena Liao....
Now onwards is Nation to Nation competing....
16/2/24, 5:47 pm - +Smiley face: Must take off or....!
16/2/24, 5:48 pm - +Smiley face: In the next few months of 2024....you will read and realize the intense and Integrated competitions unseen since the year 2000 !
16/2/24, 5:48 pm - +Frankie Wee: Rising level is high fly in the sky how let it take off down to the earth
16/2/24, 5:49 pm - +Smiley face: Soft landing or....?
Pilot Boleh
16/2/24, 5:49 pm - +Smiley face: Don't be afraid of heights....
16/2/24, 5:50 pm - +Smiley face: Yesterday costs, today and tomorrow costs.....all different and always have been!
16/2/24, 5:52 pm - +Smiley face: Given, the US is the powerhouse for Softwares and Taiwan is the Hardware giant of this digital age! How to compete and follow up to the two mightiest?".....
Just one factor, alone, that's global competition for the dominance of the digitisation and the future of.....
16/2/24, 5:53 pm - +Frankie Wee: This greatest powerhouse first world in the USA between Taiwan
16/2/24, 5:53 pm - +Frankie Wee: Origin of country made from
16/2/24, 5:54 pm - +Frankie Wee: China will envy US
16/2/24, 5:54 pm - +Frankie Wee: China going to make way space station travel
16/2/24, 5:54 pm - +Rama: So, their game to tame USA will backfire!?
16/2/24, 5:55 pm - +Frankie Wee: Alway competition trade war
16/2/24, 5:58 pm - +Smiley face: The problem is....you think he is silly and he thinks you're smarter!
16/2/24, 5:58 pm - +Smiley face: Outsource...... done and in progress
16/2/24, 5:59 pm - +Smiley face: Hopefully don't compete becoming a hot war !
16/2/24, 5:59 pm - +Smiley face: Here fire there fireworks! No water!
16/2/24, 6:02 pm - +Smiley face: A colossal of both advanced scientific and cutting edge technical efforts in applying precise calibrations of materials and assemblies and highest specifications of speed, stability during flight and endurance of heat through friction from hyper speed airflow! That's an American knowledge bank...
16/2/24, 6:04 pm - +Smiley face: Putin will do better this time around!.....
Into the cold war era, the Soviet communism idealogy was a western invention, itself was in the midst of political, economic and social upheaval and changed, and the intermittent leadership of Lenin, Stalin, Malenkov, Khrushchev, Brezhnev, Andropov, ChernenkoIn, Gorbachev. The four significance are Stalin, Khrushchev, Brezhnev and Gorbachev, they totaled over six decades of the history of the USSR after WW1 and the end of the Soviet Union on Christmas of 1991.
16/2/24, 6:07 pm - ☸️ Danny ๅฟ: <Media omitted>
16/2/24, 6:07 pm - ☸️ Danny ๅฟ:
Every food courts prices all like that....
Very mahan.....
16/2/24, 6:10 pm - +Smiley face: Ah Hah !
16/2/24, 6:11 pm - +Frankie Wee: Coffeeshop much cheaper
16/2/24, 6:12 pm - +Frankie Wee: Without air-con hawker
16/2/24, 6:12 pm - +Smiley face: and the cost of living will never be the same!...
16/2/24, 6:12 pm - +Smiley face: Ah Hah! Thanks!
16/2/24, 6:12 pm - +Frankie Wee: Abit increase than food counts
16/2/24, 6:12 pm - ☸️ Danny ๅฟ: <Media omitted>
16/2/24, 6:13 pm - +Frankie Wee: Omg kopi $2
16/2/24, 6:13 pm - +Frankie Wee: ๐คฆ
16/2/24, 6:13 pm - ☸️ Danny ๅฟ:
The drinks here - LAGI Banyak Banyak mahal.
Tak boleh Tahan. <This message was edited>
16/2/24, 6:13 pm - +Rama: ๐ณ๐
16/2/24, 6:13 pm - +Smiley face: Susah?
16/2/24, 6:14 pm - +Frankie Wee: Hawker $0.90 - $1.20
Coffeeshop $1.30-$1.60
16/2/24, 6:14 pm - +Rama: Banyan!
16/2/24, 6:14 pm - +Smiley face: Sekarang pensan, encik!
16/2/24, 6:15 pm - +Smiley face: Chance
16/2/24, 6:15 pm - +Rama: Campaign penat sealing!
16/2/24, 6:15 pm - +Rama: Sekali
16/2/24, 6:15 pm - +Frankie Wee: Air con public food count who wish feel air con comfort eating
16/2/24, 6:15 pm - +Smiley face: Lagi Lagi !
16/2/24, 6:15 pm - +Rama: Bila habis!?
16/2/24, 6:15 pm - +Smiley face: Comfort and Convenience
16/2/24, 6:16 pm - +Rama: At a price!
16/2/24, 6:16 pm - +Smiley face: Susah Tuan !
16/2/24, 6:16 pm - +Rama: Betul!
16/2/24, 6:16 pm - +Smiley face: Ya lor !
Wish for a burger and pay for bread?
16/2/24, 6:16 pm - +Rama: ๐ณ
16/2/24, 6:16 pm - +Smiley face: Besama besama
16/2/24, 6:17 pm - +Rama: ลธa
16/2/24, 6:18 pm - +Smiley face: saya menghormati anda!
16/2/24, 6:21 pm - +Rama: Apa nak atau boleh jadi!?
16/2/24, 6:22 pm - +Smiley face: selepas sila baca esei tentang kereta dan Toyota. Tolong !
16/2/24, 6:22 pm - +Smiley face: Tuan Danni datang!
16/2/24, 6:22 pm - ☸️ Danny ๅฟ:
Wonder if government can continue to sustain such budget year after year or not?
But looking at the food prices, it is likely to get entrenched and won't come down.
In long run how to Tahan?
Now election year, we get so good goodies.
But the years after next leh....
I wonder....
16/2/24, 6:23 pm - +Rama: Macham mana naked atau tolong!?
16/2/24, 6:23 pm - +Rama: Hard to forsee.
16/2/24, 6:23 pm - ☸️ Danny ๅฟ:
How come the forum bercakap melayu....
Did I started it...,๐ <This message was edited>
16/2/24, 6:24 pm - +Rama: I think so!๐๐๐คท♂️
16/2/24, 6:24 pm - +Rama: Nak
16/2/24, 6:25 pm - ☸️ Danny ๅฟ:
Hahaha...
Let us come back to English....
16/2/24, 6:25 pm - +Smiley face: give also not wrong, don't give sure wrong and give not enough most wrong?
16/2/24, 6:26 pm - +Rama: Yes
16/2/24, 6:26 pm - +Smiley face: If you are DPM Wong, how not to wrong?
16/2/24, 6:27 pm - +Rama: Moderate all requests
16/2/24, 6:27 pm - +Smiley face: Yes sir ! Moderately
16/2/24, 6:28 pm - +Rama: Now, after GE25, chicken wing given will become whole chicken taken back.
16/2/24, 6:29 pm - +Smiley face: After that.... drumsticks pluralistic!
16/2/24, 6:29 pm - +Rama: ๐๐๐คท♂️๐คฆ♂️
16/2/24, 6:30 pm - +Smiley face: Must uplift from wings to drumstick!
16/2/24, 6:30 pm - +Rama: And downgrade from whole chicken!
16/2/24, 6:31 pm - +Smiley face: Ah hah!
16/2/24, 6:31 pm - +Rama: Vote will be minimum 75%!
16/2/24, 6:33 pm - +Smiley face: Yes sure! You meant GE count?
16/2/24, 6:34 pm - +Rama: Yes
16/2/24, 6:36 pm - +Smiley face: It will be a strong headstart and a clear signal not to ourselves but importantly to our present and future investors that we are ONE UNITED PEOPLE regardless of rumours or gossiping, we stand taller and cut-off all distractions and noises within and outside of our SG!
16/2/24, 6:36 pm - +Rama: Definitely!
16/2/24, 6:37 pm - +Smiley face: Humankind loves gossip and rumours!
16/2/24, 6:37 pm - +Smiley face: 75% is tall... perhaps 70%
16/2/24, 6:37 pm - +Rama: Yup
16/2/24, 6:38 pm - +Smiley face: The danger is MONKEYS SEE ...
16/2/24, 6:38 pm - +Rama: Let's surprise our government!
16/2/24, 6:38 pm - +Rama: True
16/2/24, 6:38 pm - +Smiley face: Like 5050
16/2/24, 6:38 pm - +Rama: 65/35
16/2/24, 6:39 pm - +Smiley face: Not solid enough! 70%!
Let's give our 4G leadership one BIG booster!
Either we are ALL IN or we are neither here nor there!
16/2/24, 6:40 pm - +Rama: OK
16/2/24, 6:40 pm - +Smiley face: Outside folks watching!
16/2/24, 6:41 pm - +KL: LOl u know what the outside folk disussing ?
16/2/24, 6:41 pm - +Smiley face: 4G lor and our strategies!
16/2/24, 6:41 pm - +Rama: See how unique our people and government is.
16/2/24, 6:42 pm - +Smiley face: It's imperative and most important to know the threats of surveillance from the outside!
16/2/24, 6:42 pm - +Smiley face: Our intention and our strategies! Secrets!
16/2/24, 6:44 pm - +Smiley face: The problem is....you think he is silly and he thinks you're smarter!
16/2/24, 6:45 pm - +Smiley face: The game, the intensity and the dynamic of the digital transformation have all changed, now onwards, its nation against nation and who reaches the goal-line of Digitisation shall have advantages over the rest.....
16/2/24, 6:47 pm - +Smiley face: Frankie, Andrew, KL...pls kindly read this essay and do critic or ask questions..
16/2/24, 6:47 pm - +Smiley face: Continuation: Part 6/9 (1 - )
(The Digital Civilisation: Accelerating Performances & Pitfalls: Karl, Smith, Jung, Maslow, Da Vinci, Deming, Einstein, Galileo, Moore, Newton, Ricardo and more?)
"Three Indicators of human predicative or predicament?"
"The game, the intensity and the dynamic of the digital transformation have all changed, now onwards, its nation against nation and who reaches the goal-line of Digitisation shall have advantages over the rest. It's hard to follow and arguably hardest to lead ! Zero to Hero or Hero to Zero ! All because of the nature of competing in this fast and changing digital civilisation in the making. Where are the Strategic Advantages for nations aspiring to lead? Given, the US is the powerhouse for Softwares and Taiwan is the Hardware giant of this digital age! How to compete and follow up to the two mightiest?"
- - anonymity
Three existential metrics: Homes, Cars, Devices. Each has its cost, value and the satisfactions and our achievements. All of these tangible metrics are indicators of the thrive or struggle of a country. All need investments and it costs millions and billions of dollars to sustain and come to realisation.
Home is the sole determinant of any human existence and identity. It includes the Social economics aspects and the overall demography of a Society and the conditions of living in a country varies from the others. The affordability issue is an indicator of how robust and resilient a country is versus its past economics performance, now in comparison to the next closest economy of contention. And the lower the access to affordable housings or more people chose to rent means the inability of individuals to own homes and the ability to service the long term loans while assuming the short term financial obligations are adequately met. The short term and long term perspectives from the angle of home buyers.
In the next three to five years outlook for our property sector should be optimistic given the uncertainties outside of our control. The overall upside should mirror the past two year of moderate growth trajectory.
Transportation is another indicator of physical mobility. From private transports to the public transports. Both has its unique attributes and metrics of the economies of scale and the efficiency derived from each utility of moving individuals and at the larger scale of people movements. Alternative mode of transit will be the next futuristic way of moving tangibles more than commuters; from one point to multi-points. Drone is one game changer and a new way of living in any city and more convincing over a longer distance and geographical landscapes. Will drones relieve on ground level or underground traffic congestions? Just how cost effective and efficient in terms of volume and turnover will drone outpace the conventional ways of delivering goods? The costs of transportation may increase up to 2% annually.
Digital devices in particular is the personal mobile phones followed by computers at home and at the workplace. A highly digitised country enables all mobile activities accessible whether is on the move, at home or at work and it's a 24/7 non-stop services portal with infinite capacity for expansion and scaling at each permissible exposure added to the list of things one needs or one wanting to achieve and complete in seconds within the reach of a digital devices. Only if the overall Digital systems are intact and connecting to the entire country goods and services. Comparatively, this colossal Digital hub to others, it will bloom to many Strategic Advantages of efficiency and massive consolidation of economic definition of human productivity. The overall benefits from investments to transform will continue to outweigh the costs of all digitisation to be viable as a competitive digital hub for goods and services.
"If there is no humankind on earth, then there will be no life and no need to innovate, to create and to improve lives!"
- - anonymity
How to quantify and qualify the future potentials of a Country by these metrics?
It's all about the future! Strategic investments and smart planning will yield many lasting advantages and if executed well and the overall structures and dynamism are of high or highest quality of knowledge and people compared to the previous ten years; it will be the newfound bedrocks of Strategic Advantage that not only benefits the microeconomics but the macro perspectives at the frontier of international trades, negotiations and the easiest movements of people from every part of the world into your foundry of wealth and knowledge. And people are the pinnacle of all meanings of economic growth of a nation, nothing more and never the least important and the cost of living will never be the same!
Investments on human capital is a smart strategy and hopefully in the longer term will yield many strategic advantages other than skills and high paying jobs but a holistic approach of a truly digitised nation. And thereafter, by 2030, a digital civilisation.
- - in progress - -
16/2/24, 6:49 pm - +Smiley face: Q & A?
16/2/24, 6:50 pm - +Rama: Sheer grit and determination!
16/2/24, 6:50 pm - +KL: This message was deleted
16/2/24, 6:50 pm - +Smiley face: Any other choices? Please share it. Thanks!
16/2/24, 6:50 pm - +Rama: The will to succeed against all odd!
16/2/24, 6:51 pm - +Smiley face: Never belittle yourself....unity is STRENGTH!
16/2/24, 6:51 pm - +Smiley face: Yes, Holmat Sir !
16/2/24, 6:51 pm - +KL: Thanks for the advice but should have say that in 2012. <This message was edited>
16/2/24, 6:51 pm - +Rama: ๐ฉ *GAME OVER - 4% CPF-SA return for retirement will be ending in 2025*
For decades, Singaporeans and PR will find ways to keep their money in CPF-SA through their retirement to optimize their cash with a *”guaranteed" 4% return* - a return that is unmatched by other instruments in Singapore with similar risk.
From 2025 onwards, the CPF-SA account will be closed after the age of 55 and CPF monies above the full retirement sum will be all transferred to CPF-OA *(current rate of 2.5% p.a.)*
https://shorturl.at/hqPQ4
*What does this imply?*
1️⃣ Lower return for your retirement funds
2️⃣ More incentive to redirect funds into higher yield assets
3️⃣ The need to not just rely on one source of retirement income to reduce disruption by regulation
*So what's next?*
Now that the rules of the game have changed, there's a need to re-adjust our retirement strategy, especially if the CPF system is a crucial part of your retirement plans. If you are above 45 this year, do reach out to find out what're the latest strategies in optimizing your Retirement.
16/2/24, 6:52 pm - +Smiley face: Every one of us here, especially the quiet ones....all of us are ABLE adults!
All of us have gone through the era of rigor and Lee Kuan Yew has taught us valuable lessons!
16/2/24, 6:53 pm - +Smiley face: 4% is a good headstart and how about 5% akan datang!!!!
16/2/24, 6:54 pm - +Smiley face: Be self-sufficient.....our ironman and superman just cannot carry it ALL THE WAY !
16/2/24, 6:54 pm - +Rama: Some people are short sighted!
16/2/24, 6:54 pm - +Rama: Agree
16/2/24, 6:54 pm - +Smiley face: Understand....in life is such!
16/2/24, 6:54 pm - +Rama: Yes
16/2/24, 6:55 pm - +Smiley face: Be big hearted...... empathy, compassion and most of all, circumstance is a big word!
16/2/24, 6:55 pm - +Rama: Who's to say in future Cpf-OA interest rate will not be at least 3%!?
16/2/24, 6:56 pm - +Smiley face: If it does.... pls feel free to pull all out.....and you are on your own!
16/2/24, 6:57 pm - +Smiley face: All the best, too!
16/2/24, 6:57 pm - +Rama: Will be a bad move!
16/2/24, 6:57 pm - +Smiley face: Why 3%....it's regression
16/2/24, 6:58 pm - +Rama: Just a figure !
16/2/24, 6:58 pm - +Smiley face: Good that you challenged it. Thanks
16/2/24, 6:59 pm - +~.@: CPF OA at 3% means hdb loan will be at 3.1%, which will hit the lower income who cannot qualify for bank loan the most
16/2/24, 6:59 pm - +Smiley face: Has to be below 3%, that's a loan to speak...
16/2/24, 6:59 pm - +Smiley face: Sorry above above!
16/2/24, 7:00 pm - +Smiley face: In the near term, 3.5% fixed rates?
16/2/24, 7:02 pm - +Rama: Ok
16/2/24, 7:03 pm - +Rama: Maybe
16/2/24, 7:03 pm - +Smiley face: Continuation: Part 4/9 (1-2)
(The Digital Civilisation: Accelerating Performances & Pitfalls: Karl, Smith, Jung, Maslow, Da Vinci, Deming, Einstein, Galileo, Moore, Newton, Ricardo and more?)
"In the coming ten years, if, Singapore is able to capture a tenth or more of the world digital goods and services and trades through refreshed agreements; This momentum, perhaps, will be the begining of a new epoch that will surpass the last 50 years of nation building, economics and social growth potentials not seen now onwards, and forward thinking in this era of Digitisation and Decarbonisation of all tangibles and intangibles that we identify as the future Singapore Enterprise (fSE) for financial, food, logistics, education, entertainment, arts and performance, energy, world class governance, strong military, center for talents, cutting edge R&D, advanced digital city and updated physical infrastructures, housings, city & urban plannings and most importantly, SG as a locale, will be the matching and happening for multitude of activities in/out of Asean-China- India-America and the larger Indo-Pacific. For all periods of transition and the transformation shall be the efforts of the people together with the fourth generation of leaders to excel and to bridge a forward SG in the making and most importantly, the future of a Digital Civilisation!"
- - anonymity
Unassumingly,?
The Pegasus:
"Prototype, People, Procedure, Process, Peruse, Progression, Prediction, Prospecting, Positioning, Productivity, Performance and Pitfall" (12Ps)
The Electric Dreams?
Then, now, and the future prospects of the EV; Toyota, BYD, Tesla, VW and Apple. In 2013, Toyota Chairman Takeshi Uchiyamada reasons for not producing pure EV was because Toyota don't believe there is a market (consumers) and it would take up to two generation of the battery technology to stabilise and reaching its peak. Another disbelieve from the Toyota executives was Tesla first EV debut model in 2006 (pre economic crisis of 2007/8 and later pre pandemic), the Roadster, was sold at $109,000 and continued to make losses despite the US government heavy subsidies on each unit of the Roadster. A lost course, all of these mixed financial and economic signals dissuaded Toyota to invest more and investigate further on the battery technology for EV uses and most importantly, harder to believe, the Japanese automaker under estimated the potential threats from the Chinese automakers and lacking of business intelligence and the inner most insights. The power of transfer of technology from the West, talent poached and R&D all enabled the Chinese automakers from where they were yesterday to where they are today! Simply the best moment yet for the Chinese. Finally, the rumors of "no place to place" thousands of disposed EV in China, is it real or another sensational story?
Today in the times of post pandemic, the average price of an EV is half of 2006 model Roadster and by 2030 it may drop to $15,000 for a basic EV compared to the initial price of $109,000 and the popular petrol driven Toyota Corolla at $20,000. What will be the factors of the decrease in the EV pricing? Market shares, government subsidies as one-way of protectionism, lower cost structure, new technology and methodology in the manufacturing process, least interconnecting parts, minimal labor, and high degree of utility of AI, robotic & automation and the highest calibration, and the fastest and complex calculus in seconds.
In the year 2024, things are entirely different and the market conditions from Europe to the Middle East, Asia to America, are changing! The current leader of EV is BYD and Tesla and now Toyota is in the game with the former while the German carmakers acknowledged the transformative chain reactions from the Chinese automaker to the Korean Kia/Hyundai all competing for market shares which a decade ago it wasn't clear if EV would one day becomes a reality of public and private transportation means. Will it be a catching up game for Toyota and the European carmakers struggling to keep pace or it's already at the tail end or both impedimental of growth and impending decline of the number one carmaker?
How to bound the boundaries of competition and recode and reinvent the know-how of carmaking above Tesla and BYD efficiency curve?
Incredibly consequential?
Exactly the twentieth year timeline, that is 2025/6, what will be the outlook and the prospect for the big ten carmakers of the world?
At the frontline of the digital device markets, Apple, Huawei and Xiaomi are in the midst of an all out uphill battles with Huawei launching new products/OS in 2024 and hopefully Apple will react and confronts the reality of intensed competitions and the criss cross positioning of the Global top handphone maker; it is a dog eats dog world of the mobile technology.
Turning to the global consumers and specific on the cultures of beer drinking, liquors, wines, whisky and the shortage of water?
The story of the whiskey and the beer belly; the case of Suntory, Anheuser Busch and Coca Cola, three continental giants of beverage makers, the lineages and the impactful history and the present followings of habits, social classes and the preferred tastes. One continent consumption patterns different from the next big continent; the ways of life, cultures and costs of living all amounting to unqualified and the future implications of the existential contestations of the financials and economics of these FMCGs, aka beer or wine or whisky! And what about Amrut, that's India whisky, up and coming, the making of a global brand.
How to whisk the code and distill a highly generative and predicable algorithmic model of consumptions, competitions and the division of the mixed signals (tangible indexes) and the subjective sentiments (intangible cues) on the backdrops of the contest between US-China and the fringe of nations?
Accelerates or Pitfalls?
Quality, Quantity, and Quantum (Qbit) are three critical balancing point of concerns to strive for in the interrelated order of sequential transmission to the end goals of an hyper Intelligence with an AI sensory mode human like emotions, feelings, 5 senses, and consciousness. A high quality model needs a high numbers of qualified data sets before the model embark onto the next phase of beta testings both internally and outwardly. The end goal of this robust model is to enable itself to replicate, generate and scale itself from a micro (1) to a macro (1,00,000,000) scale of transition and transformation to a hyper app or a Hybrid app evolved from a superapp; either an accelerated performance that drives revenue to the roof or impending pitfalls due to escalating costs and failures.
"Transfer of technology, Designs, and Talents?
In just twenty years of accelerated learnings, China is into the realm of EV and everything else become dated and fated to lose? Less the ambiguity In today's matters of consequential, the OECD and the BRICS, both has its strengths and weaknesses and the leadership of each group respectively is either US or China. Importantly, it's becoming an "either-or" membership and affiliation of nation to nation and not so on the common level of people to people relationships. Most of all, Money talks!"
- - anonymity
Since 1984, for almost four decades of carmaking history of VW Santana in China (the other foreign brand was Jeep of USA) and by the early 2000s, VW has over 50% of market shares. One could perhaps said that VW has made their big money in China ahead and earlier than GM, Ford and Toyota, that was then. And now, VW is facing an unprecedented threat of exit from the China market which spells doom and severely impact its global export markets, the German auto industry, branding and the potential huge lost in sales. All because of the birth of EVs and many other complex issues that are linked to critical minerals, global trades, geopolitics, national interests and OBOR. Will VW scales down its carmaking business in China sooner than 2025/26 or for the first time the German carmaker losing out to the Chinese EV makers on the global front of competitions from BYD, Tesla, Toyota, Stellantis, and Hyundai/Kia and the overall rankings of EV makers? And how about India? It's the third largest carmakers with closed to 5 millions units sold in 2023 and Suzuki commanding 40% market shares in India.
Just how much more subsidies will the German taxpayers willing to foot the bill to keep VW, its auto industry and it SMEs all stayin alive? Likewise for the Chinese, just how deep will this cut throat tactics of exporting cheaper and in the millions of EVs to the rest of the world. Will BYD and Tesla be the superscale EV makers, the top two and sooner than later the hyper scale EV makers of tomorrow replacing Toyota and VW respectively.
Probably yes! And reliability is another unknown and only time will tell us from one over the other and ultimately, reputation is at stake. Perhaps, overly dependant on one big market has it pitfalls and the disbelievers and the lacking of forsights in the emerging science and technology, this case is the breakthrough in technology of the battery and the electric vehicle against the existing fuel driven vehicles which need more parts and thousands of components to assemble a complete car, the higher value or a luxury car is, the more attention to details it needs. Quality v Quantity and it need skills and know-how to balance it all unless it's hyper Intelligence beyond human abilities! It spells the beginning of machine intelligence outsmarts human intelligence by thousands time. So what is the future of human and what human can do and AI cannot do? On the front of the human capital, Daimler AG demography reads lihe this; as at 2024, half of its workforce is 55 years and older.
How about Toyota and how these ageing workforce will bring about the labor policies, fiscal & monetary policies, the economic structures, and many changes in the policy of lives and livelihoods. It is imperative and it is timely now to transform into an AloT working whereby human and AI commanding the frontier of operations and importantly, to lower the costs of production and massively increasing productivity. That's the game of Transformation!
Minimalist?
The least parts, components and assembly time will accelerate to a higher scale of productions, higher revenue and mid/long term cost benefits in this fast moving consumers product called car! Technology and dependancy will be the key breaking points for all businesses.
Bridging Your Dreams? (BYD)
On the frontier of the global automakers, will there be more consolidation between the big players against the on-going intense competitions and trade tariffs imposed on each other regardless of prior trades agreement. Two sure traits will emerge, that's continuous battery innovations & errors, and consumers choice of EV brands that are durable and reliable! On & Off like an electron signal, either you're on your mark or you're off the mark or you simply crushed! And consumers are the Cash generator for all industries.
So when will it happens?
Every 3% gained YTY in market shares, 10% increased in capitalisation, and in five consecutive years will increase the dynamics and momentum in the overall auto industry including the layers of lateral functions of each supply chain, all in a cluster of growth. For a handful of automakers will accelerate starting now and the rest shall face the consequences of pitfall over a period of ten years withstanding the enormous needs for the advancement of cash (1:9 financial gearings).
It will be a massive consolidation of economics at both lateral layers and at levels unseen, vertically, from the ground. Only if inflation & interest rates are tamped down and the rates of bond is rising, that's when bankers would called for M&A coupled with the long standing of bilateral trades & diplomatic relations. And Cash is still the Mighty driver for accelerations on the front of reverse engineering and talent poaching from one competitor onto the other competitors. It's a game changer for the sake of scaling and staying on the top of the game of Carmaker!
"All have their ancestries linked into today's Aerospace technologies, Military sciences and Commercial uses, specifically, resumable rockets, space ships, space vehicles, lightweight comms & spy satellites, and hypersonic missile..."
- - anonymity
Firebird (Tsybin RSR) or Blackbird (BB)?
One dark secret of the US aviation was the invention of a spy plane that enabled breakthrough of the sound barrier, the exact capabilities then was Mach 4.0 in the 1950s! It's not surprised to believe that the Blackbird speed would reached up to March 8.0 almost 9.0 the speed of sound and beyond the mark of 10 is a realm of its own which is a different accolade of achievements and human intolerance. Total redesign and fresh approach in aerodynamics with clean sheet of papers from materials science to the mechanical science to the special tools and the exponential power of the propulsion.
A colossal of both advanced scientific and cutting edge technical efforts in applying precise calibrations of materials and assemblies and highest specifications of speed, stability during flight and endurance of heat through friction from hyper speed airflow! The Yom Kippur War in the Middle-east was an example of the capabilities of the SR71 BB abilities in taking aerial photos of the critical war positions of both the Israeli and the Arabs military deployment. The other flight was during the Vietnam war, the BB flew over the territory of Vietnam in just 12 minutes and all aerial photos taken. And in 1970, one sortie a week in over Laos and Vietnam, yet the US lost the war even with aerial bombings by the B52s. Was it the lack of real-time intel, or the densed tropical forests and terrains blended with the intricate cuchi tunnels system of the Vietcong, or it was meant to be a losing war?
The biggest hoard of this ore, Titanium, was the USSR. The US knew it needed this crucial ore to make the SR71 and it was through the spy networks into thrid nations to obtain Titanium in secrecy back to Lockheed Martin and the rest was aviation history made! Why did the US decommissioned the BB
(21/3/68 - 9/10/99) ? And was it due to the lacking of funds and the higher operations cost?
Firebird?
In August 22, 1972, Sukhoi T-4 flew followed by 10 missions and shortly scrapped on 19 December 1975. Having said so, today Russia, they have the plane, the submarine, and the hypersonic missile!
Why didn't the Soviet has their own Firebird, named Tsybin RSR? Perhaps it was miscalculated moves by the Kremlins to abandon the project and further into it. Into the cold war era, the Soviet communism idealogy was a western invention, itself was in the midst of political, economic and social upheaval and changed, and the intermittent leadership of Lenin, Stalin, Malenkov, Khrushchev, Brezhnev, Andropov, ChernenkoIn, Gorbachev. The four significance are Stalin, Khrushchev, Brezhnev and Gorbachev, they totaled over six decades of the history of the USSR after WW1 and the end of the Soviet Union on Christmas of 1991.
"The game of Geopolitics: You creates multiple imbalances of economic and social and policies to the point of conflicts and confronts and diplomacy is an act so as to achieve your dreams and, and benefits. Your continuous process of ratification and new possibilities for the sake of promising peace and prosperity and the underlying stability and security to humankind. And that's it, it's the rule of actions and reactions !"
- - anonymity
Comparative analysis, why China outlives USSR in the idea of communism? Why China thrives and USSR didn't survived the change of time and the changing order of the new world three decades after WW2 and will China falls, the last stronghold of communism?Will communism once again spreads into the world and half of the world will adores it? Possible or highly unlikely to happen?
At the crossroad of ideology, again, the world will choose between two belief systems that are either the American Dreams or the China Dreams or shattered dreams!
- - in progress - -
How China built BYD, its Tesla killer
https://www.straitstimes.com/asia/east-asia/how-china-built-byd-its-tesla-killer
16/2/24, 7:04 pm - +Smiley face: Q & A?
16/2/24, 7:23 pm - +REACH: Dear contributors,
We would love to hear more from you! We will be extending the chat to *8pm* today.
Megan๐
16/2/24, 7:24 pm - +Rama: I have been hearing talks over a period of time that some ideas raised and implemented came from across the political divide but put down as not feasible only to see it come alive from the other end!?
16/2/24, 7:27 pm - +Smiley face: Examples?
16/2/24, 7:28 pm - +Rama: As these are verbal conversations and not written, I can't screenshot and show.
16/2/24, 7:29 pm - +Smiley face: What's the conversation about?
16/2/24, 7:31 pm - +Rama: That what was proposed ended up being dismissed only to re-appear in another form!
16/2/24, 7:34 pm - +Smiley face: Example?
16/2/24, 7:36 pm - +Smiley face: Andrew.....
"In some extraordinary situation, if you are unable to reason or find an answer. Perhaps the beneficiary is the person who planned it."
- - anonymity
"ๅจไธไบ้ๅๅฏปๅธธ็ๆ ๅตไธ, ๅฆๆไฝ ๆ ๆณๆจ็ (ๅๅ ), ๆ ๆณๆพๅฐ็ญๆก(็ป่ฎบ). ไน่ฎธๅ็่ ๅฐฑๆฏ็ญๅๅฎ็ไบบ."
- - ๆ ๅ
16/2/24, 7:41 pm - +Rama: Possibly
16/2/24, 7:45 pm - +REACH: *Dear Contributors,*
⏰ We will be closing the chat in *15 minutes* ⏰
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight!
Megan ๐
16/2/24, 8:00 pm - +REACH: *Dear Contributors,*
We will be closing the chat for today.
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight!
Megan ๐
====
No comments:
Post a Comment